[ad_1] WASHINGTON – The Federal Reserve on Wednesday approved a much-anticipated interest rate hike that takes benchmark borrowing costs to their highest level in more than 22 years. In a move that financial markets had completely priced in, the central bank’s Federal Open Market Committee raised its funds rate by a quarter percentage point to … Read more
[ad_1] US Treasury Secretary Janet Yellen speaks during a meeting with Chinese Premier Li Qiang (not shown) at the Great Hall of the People in Beijing on July 7, 2023. Mark Schiefelbein | Afp | Getty Images The United States and China, the world’s two biggest economies, must compete fairly and communicate closely to avoid … Read more
[ad_1] The Pacific Container Terminal at the Port of Long Beach in California. Eric Thayer | Bloomberg | Getty Images The Longshore union and employers of 22,000 dockworkers at U.S. West Coast ports on Wednesday said they have reached a tentative deal on a new six-year contract covering workers at all 29 West Coast ports. The deal was reached with assistance from Acting U.S. Secretary of Labor Julie Su, the Pacific Maritime Association said in a tweet, adding … Read more
[ad_1] Saudi Minister of Energy Prince Abdulaziz bin Salman al-Saud arrives for the Organization of Petroleum Exporting Countries (OPEC) meeting in Vienna on June 3, 2023. Joe Klamar | Afp | Getty Images The influential Organization of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, on Sunday made no changes to its … Read more
[ad_1] U.K. Prime Minister Rishi Sunak said Thursday that Ukraine’s “rightful place” is within the NATO military alliance. Sunak said he agreed with comments made earlier Thursday by NATO Secretary-General Jens Stoltenberg that Ukraine is on the path toward NATO membership. “I agree with the NATO Secretary-General: Ukraine’s rightful place is in NATO,” Sunak told … Read more
[ad_1] People at the market for their daily shopping on April 07, 2023 in Bari, Italy. Inflation has eased in Italy but price pressures remain strong. Donato Fasano | Getty Images News | Getty Images Inflation in the euro zone eased more than expected in May, with flash figures showing the bloc’s annual headline inflation … Read more
[ad_1] A Chinese and US national flag hang on a fence at an international school in Beijing on December 6, 2018. (Photo by Fred DUFOUR / AFP) (Photo by FRED DUFOUR/AFP via Getty Images) Fred Dufour | Afp | Getty Images The United States is taking an analytical approach to its review of whether to … Read more
[ad_1] People walk in front of a store along the Magnificent Mile shopping district on March 15, 2023 in Chicago, Illinois. Scott Olson | Getty Images Household spending is expected to decrease significantly over the next year, according to a New York Federal Reserve survey released Monday that reflects downbeat consumer sentiment as well as … Read more
[ad_1] Broad job gains across the economy helped the labor market show resilience in the face of a banking crisis and growing recessionary concerns. Nonfarm payrolls increased by 253,000 in April, according to data from the Bureau of Labor Statistics released Friday. That’s more than the Dow Jones estimate of 180,000. Friday’s data bolsters the … Read more
[ad_1] Pilots talk as they look at the tail of an American Airlines aircraft at Dallas-Ft Worth International Airport. Mike Stone | Reuters American Airlines pilots have voted overwhelmingly to allow their labor union to call a strike while the carrier said talks for a new contract are getting close to a conclusion. Pilot strikes … Read more